New Jobs in Connecticut: TRUMPF Inc. Boosts Manufacturing Operations
DECD announces TRUMPF is the first company to receive funding under Connecticut’s Strategic Supply Chain Initiative. The post New Jobs in Connecticut: TRUMPF Inc. Boosts Manufacturing Operations appeared first on Fabricating & Metalworking.
Connecticut Department of Economic and Community Development (DECD) Commissioner Daniel O’Keefe recently announced that TRUMPF, a leading high-tech manufacturer of machine tools and laser technology in Farmington, Conn., is the first company to receive funding under the state’s $25 million Strategic Supply Chain Initiative announced earlier this year. The company will receive a $2.5 million grant to enhance its production capacity and bring manufacturing operations from outside the United States to Connecticut.
The project is the latest demonstration of TRUMPF’s commitment to Connecticut. The company, which employs approximately 500 people in the state, recently completed a $40 million expansion project of its North American headquarters in Farmington.
“I am very proud that a prestigious international company like TRUMPF is deepening its roots here in Connecticut. Their strategic decision to invest and grow in our state speaks volumes about the quality of our workforce and the numerous competitive advantages we offer,” said O’Keefe. “TRUMPF’s project, which expands their production capacity and creates new jobs in Connecticut, exemplifies the goals of our Strategic Supply Chain Initiative. We are investing in projects and companies that will strengthen the economic foundations essential for our long-term prosperity.”
DECD’s Strategic Supply Chain Initiative helps supply chain companies in Connecticut’s core industries increase production capacity and establish new operations in the state. Grant funds can be used for leasehold improvements, machinery and equipment, and other eligible business-related expenses.
To support the company’s ongoing headcount growth, DECD has also approved TRUMPF for JobsCT incentives. TRUMPF can earn up to $373,000 in tax rebates by creating 63 new full-time equivalent jobs in the coming years.
“We are honored to be the first company in the state to receive funding under this new act and we’re grateful to Governor Lamont and the State of Connecticut for this demonstration of support,” said TRUMPF Inc. President & CEO Lutz Labisch. “We’re excited to further expand local production of machine tools in support of our North American customers.
Pictured at the Smart Factory’s Grand Opening Ceremony are from left: Connecticut Governor Ned Lamont; Lutz Labisch, TRUMPF Inc. President & CEO; Nicola Leibinger-Kammüller, CEO and owner of the TRUMPF Group; and Dr.-Ing. Mathias Kammüller, TRUMP’s Chief Digital Officer and member of the managing board.
(Image courtesy of TRUMPF.)
This decision to localize production will increase manufacturing jobs here in the state and help to grow our local economy. Together, we’ll continue to make Connecticut a national hub for innovative, advanced manufacturing and skilled workforce development.”
Under the Strategic Supply Chain Initiative, companies can apply for grants ranging from $500,000 to $5,000,000 for projects that will increase their production capacity to support new work. Priority consideration is given to supply chain companies in Connecticut’s core industries including, but not limited to, manufacturing, semiconductors, insurtech and fintech, biomedical instruments and life sciences, clean energy, and information technology, including artificial intelligence and quantum computing.
The post New Jobs in Connecticut: TRUMPF Inc. Boosts Manufacturing Operations appeared first on Fabricating & Metalworking.
